Another bad week for mortgage industry (The Charlotte Observer)
In all phases of the mortgage industry last week, from the people who make the loans to the people who insure them, the news was bad -- and most of them expect it to get worse. Things have gotten so tough, title insurer Stewart Information Services Corp. said it could not cut costs fast enough in August and September to keep up with the plummeting market. The company has already made ......more...PMI Group posts first losses ever (Inside Bay Area)
WALNUT CREEK ? PMI Group Inc., a major provider of home mortgage insurance, posted its first-ever quarterly loss as a public company on Tuesday, an ominous hint that the slumping housing market...more... Bank of China profit hamstrung by mortgage losses (International Herald Tribune)
Bank of China's third-quarter profit rose 22 percent, the slowest earnings growth among the country's largest lenders, after a $322 million loss on U.S. subprime mortgage investments....more... Students often overlook federal loans that are great deals (USA Today)
In the Land of Oz, there are good witches and bad witches. Likewise, in the land of borrowing, there's good debt and bad debt. A home mortgage? Good debt, because the interest is tax-deductible, your home will likely rise in value over time, and you'll have a roof over your head. A credit card loan to buy a pair of designer sandals? Bad debt....more... Mortgage fallout may hit first-time buyers (Orlando Sentinel)
It's a lot tougher for first-time home buyers to secure a mortgage these days. ...more... Bad week in mortgage circles means more troubles for borrowers seeking loans (The Clarion-Ledger)
In all phases of the mortgage industry last week, from the people who make the loans to the people who insure them, the news was bad - and most of them expect it to get worse....more... Easy Money (Forbes)
Ben Bernanke's solution to the housing crisis and the credit crunch: the same monetary policy that got it started in the first place....more... 6 Steps to Establishing Good Credit History (WFMJ Youngstown)
In today's tight credit market, the idea of having no credit history can be enough to give a person nightmares. But fear not -- it is possible to establish solid credit that will keep bad dreams at bay....more... Resona's First-Half Profit Beats Forecast on Fees (Update2) (Bloomberg.com)
Oct. 30 (Bloomberg) -- Resona Holdings Inc., Japan's fourth-biggest bank, posted a better-than-expected first-half profit of 120 billion yen ($1.05 billion) as it earned more in fees, and costs fell....more... |